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Dec 3, 2012
12/12
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how does the economy get out of this slump? what is our economy doing well right now? what are we not doing as well as a country to deal with our economy? >> good question. the economy now is actually looking quite resilient. if you look at what's happening in energy, enormous boom. in agriculture, even with the drought, you're seeing incredible levels of income to farmers, which is really welcome. in manufacturing, one of the strongest periods of manufacturing revival that we've seen in almost a generation. not just in autos, and not just in high tech, but comprehensibly across that. we are showing american companies very competitive and resilient, and companies are bringing back production from china and mexico because this is looking like a much stronger country in which to invest and build. those are very encouraging signs for the american economy. and people running america's businesses would say they are in the strongest position they have been in maybe a decade in terms of the ability they have to expand and grow. and if we are able to lift this threat, big tax
how does the economy get out of this slump? what is our economy doing well right now? what are we not doing as well as a country to deal with our economy? >> good question. the economy now is actually looking quite resilient. if you look at what's happening in energy, enormous boom. in agriculture, even with the drought, you're seeing incredible levels of income to farmers, which is really welcome. in manufacturing, one of the strongest periods of manufacturing revival that we've seen in...
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Nov 29, 2012
11/12
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CURRENT
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that's not the american dream and that's not the way you make an economy work. they're way and you have whack. >> you raised the issue of germany. many point to it's robust economy and manufacturing sector who would resist here worker representationen oh the board of directors. how has the actual representation impacted labor strife over in europe, for example? >> you know, there is some strife, but i think there is also more of a sense that we're all in this together. as you point out i mentioned germany, but it's, you know, france all the way through the nordic countries. the other thing that's key is in a newly emerging democracy like brazil the workers through collective bargaining is four to five times the level of the united states. you have rising wages millions of brazilian workers coming into middle income status, able to buy the things they produce and a growing economy in brazil. here, the micro system of each employer trying to maximize profits at the expense of employees is leading us to a sled ride to the bottom. that's a large reason our economy i
that's not the american dream and that's not the way you make an economy work. they're way and you have whack. >> you raised the issue of germany. many point to it's robust economy and manufacturing sector who would resist here worker representationen oh the board of directors. how has the actual representation impacted labor strife over in europe, for example? >> you know, there is some strife, but i think there is also more of a sense that we're all in this together. as you point...
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Nov 29, 2012
11/12
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CURRENT
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we're not bringing the pieces together to bring the economy back where it should be. it's hard to watch the slow motion grind not discussing the issues. what about the discussion of the cap that has been etched into stone, and i'm not sure why. >> i think because there has been so much of a focus on letting the bush tax cuts expire for the top two percent and the discussions got narrowed to that. it has left us in the trillion dollar area as opposed to looking at real corporate tax reform and other ways that revenue can be generated. it looked like congressman defazio was paining a picture of how we can confront that early next year. >> eliot: he's one of our favorites. i don't think he speaks yet unfortunately for the mainstream, i wish he did. >> right. >> eliot: i don't think he does, but i think it's interesting when you hear what eric cantor says and even john boehner. they still will not discuss raising rates. they're willing to go there the charade of loophole closing and this and that, but none of which gets us where we need to be. >> right. it is amazeing to
we're not bringing the pieces together to bring the economy back where it should be. it's hard to watch the slow motion grind not discussing the issues. what about the discussion of the cap that has been etched into stone, and i'm not sure why. >> i think because there has been so much of a focus on letting the bush tax cuts expire for the top two percent and the discussions got narrowed to that. it has left us in the trillion dollar area as opposed to looking at real corporate tax reform...
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Dec 4, 2012
12/12
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you don't need to take money out of the economy. you don't need to further contract the economy. you need to stimulate the economy. the economists who track this stuff already think we're not growing enough to get back to a healthy economy. they cut the estimate to how much we are growing. people are not making enough money and therefore, not spending enough money and businesses are not hiring enough people. we need to be talking about growth. the problem in the country is an economic growth problem. the deficit, nobody wants there to be a deficit, but that's not the pressing need we've got as a nation. growing the economy, frankly, is the only way we have gotten rid of red ink in the past. when americans are better off, they pay more in taxes. the government can pay for the usual things and pay down the debt. president clinton, the surplus, he got that partly from raising revenue. raising taxes. but also he did it in a way that grew the economy and the nation prospered and the debt became no big deal and then the debt was gone and the debt clocks that were supposed to be scary g
you don't need to take money out of the economy. you don't need to further contract the economy. you need to stimulate the economy. the economists who track this stuff already think we're not growing enough to get back to a healthy economy. they cut the estimate to how much we are growing. people are not making enough money and therefore, not spending enough money and businesses are not hiring enough people. we need to be talking about growth. the problem in the country is an economic growth...
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Dec 7, 2012
12/12
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CURRENT
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that is what the economy needed. i think our problem is we didn't get enough. >> eliot: it's fascinating you articulated this way. judge poser was an iconic voice within the chicago school of economic supply. he went through the same transformation saying different circumstances call for different responses. you don't disavow of word of margenal rates. >> that's exactly right. i don't understand this idea of cocky cutter economics where you simply do the same thing regardless of circumstances. you analyze the data, look at the economy, you come up with policies that are appropriate. >> eliot: now, you have been a rather harsh critic of the way the second president bush ran the economy basically saying he disa vowed principles and put in place massive spending without caring about deficits at all. you were there. what happened as you saw this and did you push back? >> oh, yes i wrote a book called imposter, president bush destroyed the economy. which got me fired from my think tank job. it was contrary to conservative
that is what the economy needed. i think our problem is we didn't get enough. >> eliot: it's fascinating you articulated this way. judge poser was an iconic voice within the chicago school of economic supply. he went through the same transformation saying different circumstances call for different responses. you don't disavow of word of margenal rates. >> that's exactly right. i don't understand this idea of cocky cutter economics where you simply do the same thing regardless of...
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Dec 3, 2012
12/12
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this is our economy. we all want the economy to get better and americans to have more opportunities at jobs. this agreement should come sooner rather than later because just the threat of the fiscal cliff is already hurting our economy. now listen, i believe that raising tax rates hurts our economy, hurts the prospects for more jobs in our country. and i realize the president may disagree, but the fact is if there's another way to get revenue from upper income americans that doesn't hurt our economy, then why wouldn't we consider it? >> what if we go over the cliff. doesn't the president hold all the cards then? can't he say, all right, everybody taxes have increased. i'm offering 98% a tax cut of $2,000 a year. you are the party of lower taxes. are you going to refuse to cut people's tacks? >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three
this is our economy. we all want the economy to get better and americans to have more opportunities at jobs. this agreement should come sooner rather than later because just the threat of the fiscal cliff is already hurting our economy. now listen, i believe that raising tax rates hurts our economy, hurts the prospects for more jobs in our country. and i realize the president may disagree, but the fact is if there's another way to get revenue from upper income americans that doesn't hurt our...
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Dec 7, 2012
12/12
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in the global economy. she was less bullish on the idea that greece or spain or anybody else in trouble might effect the u.s. economy. she said, you know, the problem with the u.s. is internal, and it becomes a world problem. >> what do you think about the supreme court, they're now going to consider california's proposition 8, consider same sex marriage in the united states. >> i think it raises obviously to the highest court in the land a question that has bounced around the states with different verdicts. you have had a lot of states had constitutional amendments banning same sex marriage, california said yes, then has said no. you had for the first time the past election a couple states pass it in a statewide referendum, when previously when it was on the ballot it had gone down. this is a question that has had different answers in some states, and some states different answers different times within the same state. the supreme court providing a road map is helpful, if you want a 50 state solution. the
in the global economy. she was less bullish on the idea that greece or spain or anybody else in trouble might effect the u.s. economy. she said, you know, the problem with the u.s. is internal, and it becomes a world problem. >> what do you think about the supreme court, they're now going to consider california's proposition 8, consider same sex marriage in the united states. >> i think it raises obviously to the highest court in the land a question that has bounced around the...
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Dec 6, 2012
12/12
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not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into the wage cycle. we're far from that. the needs are clear. ports, roads, transport rail and plus protection against extreme weather. on the other side demand. the demand for infrastructure investments isle comin
not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you...
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Dec 7, 2012
12/12
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it would slow down the economy. >> when you look at economist's evaluations, it would slow down the economy. it would. there's no question about it. but if the problem is that we have a lot of debt and there has to be some pain whether it be in cuts or the form of higher tax revenues, it means there has to be some pain. $2.8 trillion. that's 17% of our debt wiped out overnight. if you're worried about the debt, how can't you look at that seriously? >> well, the reason i would say it's not going to be 17% of our debt on that because right now, we're running a trillion dollar deficit year single year. if we went back to zero, we're rebalanced. right now with the fourth year in a row, that deficit and debt continues to climb. so it doesn't really wipe it out and the challenge of it is what does that do to the overall economy. we're not just dealing with one tax increase as well. a lot of people lose track of that. the affordable care about actually begin on january 1st as well for people making $200,000 or more. or people having large medical bills. this is talking about an additional tax incr
it would slow down the economy. >> when you look at economist's evaluations, it would slow down the economy. it would. there's no question about it. but if the problem is that we have a lot of debt and there has to be some pain whether it be in cuts or the form of higher tax revenues, it means there has to be some pain. $2.8 trillion. that's 17% of our debt wiped out overnight. if you're worried about the debt, how can't you look at that seriously? >> well, the reason i would say...
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Dec 2, 2012
12/12
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not just for the american economy, but for the world economy. we have a chance to do something very good for the country, very good for the country now. not just protecting 98% of americans from seeing an increase in their taxes, not just preventing the threat of default hanging over the country in the future, not just preventing deeply damaging spending cuts, but doing something to create room to invest in infrastructure, strengthen the economy, get more people back to work, and putting our long tv term fiscal house in order. there's no surprise. you're a pro at this. there's going to be a lot of political theater between now and when we get there. >> is this a part of that political theater? this is your opening gambet here. it's not -- you know you're not going to get what you went up there -- >> what we're trying to do -- this is the only way i know how to do these things. you have to be clear and direct with people about what you want and what you need and what's important for the country, and that's what we did. in those proposals, no surp
not just for the american economy, but for the world economy. we have a chance to do something very good for the country, very good for the country now. not just protecting 98% of americans from seeing an increase in their taxes, not just preventing the threat of default hanging over the country in the future, not just preventing deeply damaging spending cuts, but doing something to create room to invest in infrastructure, strengthen the economy, get more people back to work, and putting our...
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Dec 1, 2012
12/12
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if you think about -- remember the economy. >> i've heard of the economy, yes. >> the unemployment rate is still way too elevated. 7.9%. gdp got a pop but most of us agree it is growing well too slowly. this is our biggest near term problem. our biggest near term problem is not the budget deficit. that is a long-term problem, a serious problems, we have a chance to do something about it. . if we can at the same time, help the 2013 economy by giving it a bit of a boost, that means a lot to workers, their paychecks, job availability. i'm very happy to see that was in there. >> when you look at the white house's proposal, what do you think they think they can actually get? >> i think they think they can get the increase in the top rates. that's the biggest kind of thing to finally break the mold on that, to really push back against the kind of grover norquist ian asymmetry. i think they can get that. i'm not sure we end up at 396 for the top rate, but i think they will get that. i think probably by giving some on the entitlements as is in their opening bid, they will be able to get back to
if you think about -- remember the economy. >> i've heard of the economy, yes. >> the unemployment rate is still way too elevated. 7.9%. gdp got a pop but most of us agree it is growing well too slowly. this is our biggest near term problem. our biggest near term problem is not the budget deficit. that is a long-term problem, a serious problems, we have a chance to do something about it. . if we can at the same time, help the 2013 economy by giving it a bit of a boost, that means a...
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Nov 29, 2012
11/12
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our economy is consumer driven. the more consumers that more money, the better it is for small businesses like me. this puts $2,000 to $3,000 in the hands of regular, ordinary working people who will spend it. the lower taxes on the rich just sends more money outside of our community, outside of our country to make bankers in the cayman islands happy. i am happy to see the president ask regular legislators to contact their legislators. >> do you think the president is trying to make this thing happen? >> i really got the feeling that they understood the stakes here. while they really wanted to hear from us, what they heard from the dozen small business people in the room who represented about 150,000 in our various progressive small business organizations was don't raise taxes on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to
our economy is consumer driven. the more consumers that more money, the better it is for small businesses like me. this puts $2,000 to $3,000 in the hands of regular, ordinary working people who will spend it. the lower taxes on the rich just sends more money outside of our community, outside of our country to make bankers in the cayman islands happy. i am happy to see the president ask regular legislators to contact their legislators. >> do you think the president is trying to make this...
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Dec 7, 2012
12/12
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they chose in a weak economy in 2010 not to do that because they knew that would hurt the economy. quite frankly, we have the same economy now that we had two years ago. consumer confidence is up, but total gdp growth has done down the last two years slightly but continuing to go down. we're not in a better spot right now to raise taxes like two years ago. >> tom coburn is talking about getting the rates up for the top 2%. here he is on abc news. just want to play it. >> okay. >> sorry. i'll read it to you. it's a graphic. we have no leverage on that, so whether we want taxes to go up or not, they're going to. we can't stop it from happening. the real elephant in the room is entitlements. taxes go up at the beginning of the year if you don't do a deal. the only deal is have them go up on fewer people than they otherwise would. that seems to be something that a republican would -- you don't have a lot of leverage? >> that's the challenge dealing with democrats like howard dean and others that say let's raise it on everybody. that creates this situation where we haves in a bad idea.
they chose in a weak economy in 2010 not to do that because they knew that would hurt the economy. quite frankly, we have the same economy now that we had two years ago. consumer confidence is up, but total gdp growth has done down the last two years slightly but continuing to go down. we're not in a better spot right now to raise taxes like two years ago. >> tom coburn is talking about getting the rates up for the top 2%. here he is on abc news. just want to play it. >> okay....
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Dec 6, 2012
12/12
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think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of the job she's done as secretary of state for this country. >>> welcome back to "hardball." we know now that mitt romney blames his loss on obama's gifts. i should put the quote marks around that. the much maligned 47% came out in force. last night paul ryan distanced himself from his running mate's remarks. take a look. >> both parties tend to divide americans into our voters and their voters. let's be really clear. republicans must steer far clear of that trap. we must speak to aspirations and anxieties of every american. >> you know, it's hardly a month
think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her...
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Dec 7, 2012
12/12
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you want to make sure the debt is not growing faster than the economy. that's going to take $4 trillion in savings. you need all parts on the table and constructed in a thoughtful way so that revenues are raised in ways that are good for the economy as possible, and that when we're looking at the spending in the budget, we reform our entitlement programs and reduce spending in way that's thoughtful and good for the economy. it's going to take a lot to get there, but i actually think most of the policy ideas are well known and we're now in this political negotiation where i think there's a lot of support for having them, if they're going to go through all this, have a deal big enough to fix the problem. >> what do you say, two things, first of all, it to those who say that the economy is still sputtering along, weakness in the manufacturing sector, for instance, that this isn't the right time for dramatic cuts and secondly, that the debt ceiling deal will not be averted because the republicans have said that is a nonstarter. this could be a negotiating po
you want to make sure the debt is not growing faster than the economy. that's going to take $4 trillion in savings. you need all parts on the table and constructed in a thoughtful way so that revenues are raised in ways that are good for the economy as possible, and that when we're looking at the spending in the budget, we reform our entitlement programs and reduce spending in way that's thoughtful and good for the economy. it's going to take a lot to get there, but i actually think most of the...
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Nov 29, 2012
11/12
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, but i guess in my mind i think of traditional economy being the post-new deal economy of relatively robust high tax rates on high earners and a social safety net that is part of the social compact. to me that's tradition. that's 80 years. >> that's american. and i've -- you know, i've been working at investments -- well, really i bought my first stock when i was 11 but i started selling stocks when i was 20 and i sold stocks when personal income tax rates got as high as 91%. i've sold them when capital gains rate got as high as 39.6% and we had some wonderful periods of growth and g.d.p. and the middle-class as well as the rich prospered when tax rates were much higher than they are now. >> jon: well, we'll take a commercial and come back and talk about an op-ed that you wrote which laid out some of the math of this and some other financial going on in the world. we'll be right back. more from warren buffett and carol loomis right after this. (cheers and applause). >> jon: welcome back, we're talking with warren buffett and carol loomis. you know, we're talking a little bit about --
, but i guess in my mind i think of traditional economy being the post-new deal economy of relatively robust high tax rates on high earners and a social safety net that is part of the social compact. to me that's tradition. that's 80 years. >> that's american. and i've -- you know, i've been working at investments -- well, really i bought my first stock when i was 11 but i started selling stocks when i was 20 and i sold stocks when personal income tax rates got as high as 91%. i've sold...
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Dec 7, 2012
12/12
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if the economy is growing sharply, then if there's some damage from lifting the top rate, maybe the economy could afford it. gdp growth number is not as strong as the jobs report f we had a really weak jobs report, the president would have a really hard time, even getting moderate democrats, to increase the marginal rate. the fact that it's a strong report puts wind in his sails. >> kevin, you've touched on it a little bit. can you be more specific about what you think we're missing from today's report? >> well, i think that what's missing from the report, if we're looking at the health of the overall economy, is that businesses are really pessimistic right now. we've had five months in a row where the orders for capital goods have been going down and, in fact, going down sharply. very often business investment is the thing that turns down right before you have a recession. we have this very dissident set of data. solid jobs report that looks like the trend we saw this year is continuing but we've got businesses holding back, probably in part because of the uncertainty over the fiscal cliff
if the economy is growing sharply, then if there's some damage from lifting the top rate, maybe the economy could afford it. gdp growth number is not as strong as the jobs report f we had a really weak jobs report, the president would have a really hard time, even getting moderate democrats, to increase the marginal rate. the fact that it's a strong report puts wind in his sails. >> kevin, you've touched on it a little bit. can you be more specific about what you think we're missing from...
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Nov 29, 2012
11/12
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we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this has sort of passed by. i wouldn't say blissful ignorance, but it has not affected their behavior. you had a fairly strong set of economic numbers this fall. the housing market seems to have finally turned up after a period of obviously deep decline. and so consumer confidence, which is one of our best proxies for this kind of thing, has been turning up and really does not yet -- the fiscal cliff does not yet seem to have penetrated their consciousness. for those of us who were in stores over the holiday weekend, stores are crowded, people are buying, but it's only
we have a slowing economy. we have slowing economies around the world. but i was at a dinner with a bunch of ceos in washington who are interested and care about this fiscal issue on monday night. and they were talking about we're not hiring. we're allowing attrition to happen. we're holding back on big spending. we want to see what happens here before we go forward. what's interesting about this is that the consumer seems to have a different view. the consumer -- for the consumer so far, this...
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Dec 7, 2012
12/12
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the economy can afford it. now the gdp growth number is not as strong as the jobs report. but if we a weak jobs report, then i think the president would have a really, really hard time getting people, even moderate democrats, to increase the marginal rate. the fact it is a strong report, i think, puts wind in the sails. >> wind in his sails. that's not necessarily what the speaker was saying. let's get straight total son kosik live at the new york stock exchange. >> raw numbers. what is the dow doing? >> we are not seeing the wind go in a strong direction towards the positive direction. you are seeing a mixed bag with stocks now. that's because, you know, despite the huge shocker of this report that was a surprise to the upside, investors see it is they are going to be cautious about this because the reality is you look at that jobs report and a lot of those jobs that were added were seasonal ones. retail, travel and leisure. guess what. the real question here is how many of those jobs are going to go away putt
the economy can afford it. now the gdp growth number is not as strong as the jobs report. but if we a weak jobs report, then i think the president would have a really, really hard time getting people, even moderate democrats, to increase the marginal rate. the fact it is a strong report, i think, puts wind in the sails. >> wind in his sails. that's not necessarily what the speaker was saying. let's get straight total son kosik live at the new york stock exchange. >> raw numbers....
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Dec 7, 2012
12/12
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this economy wants to take off again. what's holding it back right now is the political uncertainty about whether we're going to go over the cliff and each day that clicks off, we are holding back retail sales during the christmas season and that's just crazy. >> senator, on entitlements, the other side of the equation here if the tax rates have gotten what the president wants, which is a raise to 39.6%. the three national unions have that come out with an ad campaign are targeting two senators. you are one of them. as well as two republican congressman as well. they are saying don't touch social security or medicare or other entitlements. would you be open to touching them in a deal? >> interest groups have every right to advocate but we've seen the lack of power that some of the negative attacks that were spent against a lot of candidates. i think medicare is a great program. it needs to be protected. but anyone that denies the math around these programs is just disconnected to reality. the fact is, when i was a kid, th
this economy wants to take off again. what's holding it back right now is the political uncertainty about whether we're going to go over the cliff and each day that clicks off, we are holding back retail sales during the christmas season and that's just crazy. >> senator, on entitlements, the other side of the equation here if the tax rates have gotten what the president wants, which is a raise to 39.6%. the three national unions have that come out with an ad campaign are targeting two...
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Dec 7, 2012
12/12
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it's not -- it's not better ground for the economy. and, frankly, i find it difficult to see how it's better political ground even for the gop. i figured, i didn't get it. so i figured this was beyond my small political brain to understand. so i asked some of my smarter hill republican friends what the theory was here. they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our debt. that would, like, destroy the economy. that gives republicans a stronger hand or so they think. but really, think about that. here's how it would go. later this month, republicans would, by voting present, which everyone would think was a bit weird, permit the bush tax cuts to expire for income over $250,000. that would let president obama pocket $1 trillion in tax revenue and secure a win on his key priority in the talks. but they would do nothing else. at the end of the year, we would still go over the fiscal cliff. remember, the bush tax cut
it's not -- it's not better ground for the economy. and, frankly, i find it difficult to see how it's better political ground even for the gop. i figured, i didn't get it. so i figured this was beyond my small political brain to understand. so i asked some of my smarter hill republican friends what the theory was here. they told me the idea is while the president can permit the economy to fall over the fiscal cliff, or curb, whatever you want to call it, he can't allow us to default on our...
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Dec 4, 2012
12/12
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this impacts the economy and uncertainty out there that is lingering is creating havoc with our economy and our states and in my particular budget, not only don't we have growth money which we're anticipating in utah which is having a pretty healthy economy, we could take as much as a $500 million loss in revenue strings because of not getting it resolved. we're going to encourage people to come together and get it done. we're also saying that states are willing to do our part. we understand this will be a shared sacrifice as you have to look at spending cuts. states are willing to do more with less. we're asking for more flexibility. it's a common theme that we've talked about with the president, with congress. give us more flexibility. take away some of the strings and we can do more with less, help you balance your budget. >> governor walker what exactly did you say to our president and did you talk about taxes? >> well, in our case, as jack and mary both mentioned, we're not here as individual governors. we're here as part of the national governors so tp it wasn't to discuss a speci
this impacts the economy and uncertainty out there that is lingering is creating havoc with our economy and our states and in my particular budget, not only don't we have growth money which we're anticipating in utah which is having a pretty healthy economy, we could take as much as a $500 million loss in revenue strings because of not getting it resolved. we're going to encourage people to come together and get it done. we're also saying that states are willing to do our part. we understand...
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Dec 4, 2012
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the economy is on the road to recovery. let's bring in sam stein, reporter for "the huffington post." there's so much evidence that the republicans had the wrong narrative during the election. they have the wrong narrative right now. this should be really a boom for the democrats right now in the conversation world, shouldn't it? >> yeah, like you mentioned, consumer confidence is growing. the wind is at the president's back with respect to how people perceived the economy. the factor here is what happens if, for instance, in the process of these negotiations, consumer confidence dips. people feel like they are troubled by investing money and the economy goes back into a recessionary status. that's what the president wants to avoid with this fiscal cliff conversation. that's why a deal is going to be hammered out probably before the end of the year. the president does have a little political head wind. >> this gives, i think, labor a real opportunity to show the country the graph that we showed, the separation between corpo
the economy is on the road to recovery. let's bring in sam stein, reporter for "the huffington post." there's so much evidence that the republicans had the wrong narrative during the election. they have the wrong narrative right now. this should be really a boom for the democrats right now in the conversation world, shouldn't it? >> yeah, like you mentioned, consumer confidence is growing. the wind is at the president's back with respect to how people perceived the economy. the...
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Nov 29, 2012
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and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are nolts the way to get things done here in washington. majority leader and i just had a meeting with the treasury secretary. it was frank and it was direct. i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president really is willing to do. i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. yesterday our leadership t
and now to john boehner. >> -- sending the economy over the fiscal cliff. two weeks ago we had a very productive conversation at the white house. based on where we stand today, i would say two things. first, despite claims that the president supports a balanced approach, democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. jobs are on...
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Dec 6, 2012
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think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinto
think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best...
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Dec 5, 2012
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think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. aç new abc news/washington pos poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of theon she's done as secretary of state for this country. i'm done! "are you a cool mom?" i'm
think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed...
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Nov 30, 2012
11/12
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the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a response from you about timothy geithner's plan that he put on the table. 1.6 trillion in revenue. $400 billion in cuts. i'm a little confused because the president said he will give $2.50 in spending cuts for every dollar in revenue. this is, this is the opposite. >> well, finally, the white house has learned not to negotiate with itself, but with the opposition, which is the republicans. remember, there is no real cliff. on january 1st, the only thing that goes away is the social security tax holiday and nobody is seriously talking about continuing that. all the other tax increases don't take place until sometime around march. gives congress plenty of time to rekrit them, but that's $4 trillion of additional revenues. so okay, we're going to cut that more than in half. that will probably mean reagan
the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a response from you about timothy geithner's plan that he put on the table. 1.6 trillion in revenue. $400 billion in cuts. i'm a little confused because the president said he will give $2.50 in spending...
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Dec 2, 2012
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it's the economy at heart. according to leading daily only 57% of national taxes paid by catalon is returned. the lest is filtered to spain. the scotts believe that breaking away now would rid them of london's us a tausterity plans. they are careful to calculate the costs and benefits. last year scotts were polled on how they view independence. if independence made them worse off the results flipped. 500 pounds the only about 800 u.s. dollars. adam smith, a scott, if we apply that logic in america states could point out they subsidize states like alabama, mississippi and montana. states that are the most fervent advocate of states rights and small government. we'll take you to one of africa's most trouble ed nation next. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never bee
it's the economy at heart. according to leading daily only 57% of national taxes paid by catalon is returned. the lest is filtered to spain. the scotts believe that breaking away now would rid them of london's us a tausterity plans. they are careful to calculate the costs and benefits. last year scotts were polled on how they view independence. if independence made them worse off the results flipped. 500 pounds the only about 800 u.s. dollars. adam smith, a scott, if we apply that logic in...
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Dec 7, 2012
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i want to get to you on the economy. to the white house now, the november jobs report showed the fifth straight month of job gains, over 100,000. a jobless rate at the lowest level in four years. is it real or is it a mirage? joining me now allen krueger, chairman of the president's council of economic advisers. good morning to you. >> morning. >> obviously this was a jobs report that beat all expectations among economists that were looking and expecting a sandy impact. the labor department says no sandy impact. do you believe in the long 0 run we will look back at this report and not see a sandy impact? >> that's an interesting question, chuck. there was an impact in terms of over a million workers who normally work full time or part time in the reference week. so sandy did leave an impact in the data. but i think the report as a whole shows that the economy has been resilient, as i say every month when i'm on your show we're making progress. we're digging our way out of a deep hole. we're not satisfied yet. there's a l
i want to get to you on the economy. to the white house now, the november jobs report showed the fifth straight month of job gains, over 100,000. a jobless rate at the lowest level in four years. is it real or is it a mirage? joining me now allen krueger, chairman of the president's council of economic advisers. good morning to you. >> morning. >> obviously this was a jobs report that beat all expectations among economists that were looking and expecting a sandy impact. the labor...
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Dec 5, 2012
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we can't have a productive economy that's in service of wall street. the hyper trading is only bad for creating those markets. i think we should have a very small fractional transaction tax that would then go into help them pay for the bailout and actually, it's not good to be doing all that hyper trading. >> i think you should be secretary treasure you are. thanks for coming on the show. >> fox news chairman flexing his political muscle, caught on then how'd i get this... [ voice of dennis ] ...allstate safe driving bonus check? what is that? so weird, right? my agent, tom, said... [ voice of dennis ] ...only allstate sends you a bonus check for every six months you're accident-free... ...but i'm a woman. maybe it's a misprint. does it look like a misprint? ok. what i was trying... [ voice of dennis ] silence. ♪ ♪ ask an allstate agent about the safe driving bonus check. are you in good hands? [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees like our tender snow crab paired with savory garlic shrimp. jus
we can't have a productive economy that's in service of wall street. the hyper trading is only bad for creating those markets. i think we should have a very small fractional transaction tax that would then go into help them pay for the bailout and actually, it's not good to be doing all that hyper trading. >> i think you should be secretary treasure you are. thanks for coming on the show. >> fox news chairman flexing his political muscle, caught on then how'd i get this... [ voice...
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Dec 6, 2012
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i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many avenues to a victory right now but he's got a good escape, thomas. all john boehner has to do to exit out of this quickly is to say he won the election, we didn't, the american people in every survey say this is where we're going to go, we're going to go along with the wishes of the american people and the republicans would get goodwill for doing that. they have to get out of this ideological headrow that they're stuck in and do something for the company. >> the polls give them plausible acceptability of this plan of trying to move forward and, as you say, with the will of the american people
i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many...
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Dec 7, 2012
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if that continues into december for the economy, that's a bad sign. focus less on the employment report than consumer confidence as a factor in the fiscal cliff negotiations. >> these numbers are still too high, yes. we are going in the right direction and that is clear month after month. we have an unemployment crisis in this country. the casey foundation announced this week youth unemployment is higher than it's ever been since world war ii and these young people are out of the job market, staying out of the job market. this impacts them for life. if we were a serious country we would be having a discussion about unemployment. this should not take all the urgency away from that. >> and as ayman said, the numbers sort of -- they don't tell an accurate picture in terms of what's happening with unemployment in the country. it's the lowest in four years, but actually -- >> partly because people -- >> you want the number to be high eer because more people ar in the work force. look at where income is in this country, no means the middle class and working
if that continues into december for the economy, that's a bad sign. focus less on the employment report than consumer confidence as a factor in the fiscal cliff negotiations. >> these numbers are still too high, yes. we are going in the right direction and that is clear month after month. we have an unemployment crisis in this country. the casey foundation announced this week youth unemployment is higher than it's ever been since world war ii and these young people are out of the job...
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he's argued this based on economis economists. it's not nonsense, an illness. >> first of all, going back to my core argument, the idea if you're grg toç take $89 billioa year and reduce the deficit, it's laughable in its face. the president is calling for more spending with his new stimulus. number two. point number two, the democrats have shown nothing by way of spending cuts. julian talks about there's $1.6 trillion. only in washington, d.c. can you say we're winding down the war but we're going to count that as savings. baseline spending doesn't make any sense. the president of the united states -- >> if we -- >> julian, hang on one second. the president of the united states should call the congressional leadership up to camp david, go up there and they should get in a room and they should sit there until they hammer out a deal. >> i agree with that. >> julian, go ahead. >> there are three big points the viewers need to understand and they need to take note that ron did not respond to. first, on the economists. the economist
he's argued this based on economis economists. it's not nonsense, an illness. >> first of all, going back to my core argument, the idea if you're grg toç take $89 billioa year and reduce the deficit, it's laughable in its face. the president is calling for more spending with his new stimulus. number two. point number two, the democrats have shown nothing by way of spending cuts. julian talks about there's $1.6 trillion. only in washington, d.c. can you say we're winding down the war but...